How IT impacts on Real Estate

No business will go untouched by digital transformation. At the root of what’s transforming today’s business designs, industries, markets and organization is the blurring of boundaries between the physical and virtual worlds. As digital business integrates these worlds through emerging and strategic technologies, entirely new business models are created.

In this article, we would like to highlight the impact of technologies on Real Estate industry. Thanks to the proliferation of some pretty amazing real estate technology, the property industry now has a new concept to embrace called “PropTech.” The term relates to the digital transformation of real estate, and it also includes companies that offer technologically advanced products for the real estate market.

Both the commercial and residential real estate markets are using PropTech in a number of innovative ways. On the commercial side, landlords and property managers can use property management platforms to trаck rent payments and maintenance, while investors can see up to date data on a property’s operating income. On the residential market, drones are being used to get terrific footage of homes that are for sale as well as the surrounding neighborhoods. Thanks to this type of PropTech, prospective homebuyers can virtually see what different homes look like, without leaving the comfort of their own home. Both divisions of PropTech offer a number of interesting and exciting products, so it’s hard to say if one subdivision is more competitive than the other. Over time, it is safe to say that the PropTech landscape will only expand, with more people in both the residential and the commercial ends of real estate using this type of technology.

Buying real estate sight-unseen is too uncomfortable for most buyers to consider. But with high-resolution, interactive 3D virtual reality, buyers will feel like they’re walking through the property in person. And not just the way the house looked when it was mapped. Increasingly, virtual reality tours will allow viewers to see the natural light at different times of day and even different times of the year. Buyers won’t even have to use their imagination to determine how their furniture will look in it. Virtual reality software will let them superimpose various pieces of furniture in the space. Prospective buyers will be able to virtually walk through dozens of homes in an afternoon from the comfort of their real estate agent’s office — or more likely, from their own home, with these virtual tours available through their online broker.

VRG Soft is one of those companies which is trying to move with the times, created a VR App to help Real Estate agents save their and their clients’ time. Through video 360 clients have an opportunity to look through all possible variants without wasting the time. You can check the offer here: http://www.vrealestate.com.ua/#services